antic line

Norden Crown Provides Exploration Update for the Gumsberg and Burfjord JV Copper-Gold Projects

 Norden Crown Metals Corp. ( " Norden Crown " or the " Company ") (TSXV: NOCR) (OTC: NOCRF) ( Frankfurt : 03E) is pleased to provide an exploration update for its Burfjord Copper-Gold Project ("Burfjord") in northern Norway which is 100% owned but subject to an option (as described further, below) and its 100% owned Gumsberg Project ("Gumsberg"), located in the Bergslagan province in southern Sweden .

Norden Crown , in partnership with Boliden Mineral AB ("Boliden"), recently completed a 9 hole, 2,208.7 metre exploration drilling program at Burfjord, which was designed to test selected geological, geochemical and geophysical targets, with geochemical results expected in the coming weeks (Figure 1).  In addition to diamond drilling, Norden Crown completed 21.5 line-kilometres of ground–based time domain electromagnetic geophysics ("TEM") over high priority targets at Burfjord with the objective of identifying conductive copper sulphide mineralization for the purpose of drill testing (Figure 1).

Norden Crown is currently planning a soil sampling campaign and a high-resolution magnetic survey at the Fredriksson Gruva prospect at Gumsberg.  Results from this work will be combined with ongoing lithological and structural mapping to produce a 3-dimensional interpretation of the distribution of silver-zinc-lead mineralization and will form the basis of a follow up drilling program at Gumsberg.

EXPLORATION AT BURFJORD COPPER GOLD PROJECT, NORWAY

Norden Crown , together with partner Boliden, recently completed a Phase I diamond drill program and a 21.5 line-kilometre ground–based TEM survey at Burfjord.  Phase II of a previously announced UAV magnetic survey 1 is planned for Q4 2021.  Previous drilling by Norden Crown 2 at Burfjord returned compelling results including an intercept of 32 metres averaging 0.56% copper and 0.26 g/t gold (including 3.46 metres of 4.31% copper and 2.22 g/t gold) at shallow depths below a cluster of historic mine workings 3,4 .  Historical drilling at Burfjord (Cedarsgruvan) was reported to have returned 7.0 metres averaging 3.6% copper 5 .

Burfjord Diamond Drilling

A total of 9 holes (2,208.7 metres) have been drilled at Burfjord to test high priority Iron Oxide Copper Gold ("IOCG") targets located within the highly copper-gold anomalous Burfjord Anticline (Figure 1).  Diamond drilling was focused on lithological, structural, geochemical and geophysical targets with the objective of determining the upside copper-gold potential of the Burfjord Project.  Drilling was completed to an average depth of 245 metres and geochemical results are expected in the coming weeks.

Burfjord Time Domain Electromagnetic Geophysics

Norden Crown engaged GRM Geophysics ( Finland ) to conduct approximately 21.5 line–kilometres of TEM geophysics at Burfjord.  The survey includes one loop and expands coverage of the TEM data collected in 2020 1 , which identified a high-priority conductor measuring 1,900 metres between copper targets at Gamlegruvan and A-Gruva (Figure 1). TEM geophysics at Burfjord is used to identify conductive materials including inter-connected sulphide minerals such as chalcopyrite.  Conductive anomalies identified using TEM geophysics are used to increase confidence in previously identified lithological, structural and geochemical targets (Figure 1).  Furthermore, resistivity and conductivity data obtained from the TEM survey will enhance Norden Crown's geological interpretations and will be used to track copper and gold associated sulphide mineralization at depth and to increase confidence in the planned exploration drilling targets.  Results of this recent TEM survey are expected in the coming weeks.

Burfjord Joint Venture Terms

Norden Crown entered into an option agreement (the "Agreement") with Boliden in respect to Burfjord 6 . In order to earn a 51% interest in the Project, Boliden must fund 100% of the exploration programs by spending US$6 Million within four years of the date of the Agreement.

Overview of the Burfjord Project

Burfjord, located in the Kåfjord Copper Belt near Alta, Norway , is highly prospective for IOCG and sediment hosted copper mineral deposits.  Copper-gold veins at Burfjord that were historically mined (pre 20th century) at reported cut-off grades of 3-5% Cu are surrounded by envelopes of stockwork veins or disseminations of copper mineralization extending tens to hundreds of metres laterally into the host rocks.

Figure 1. Plan map showing, geology, anomalous rock sample (copper), target locations and 2021 drill hole locations at Burfjord. (CNW Group/Norden Crown Metals Corp.)

Norden Crown and Boliden believe this mineralization has economic potential and represents an attractive bulk tonnage exploration target.  Burfjord is comprised of six exploration licenses totaling 5,500 hectares in the Kåfjord Copper Belt near Alta in Norway . During the nineteenth century, copper mineralization was mined from over 30 historic mines and prospects developed along the flanks of a prominent 4 x 6-kilometre fold (anticline) consisting of interbedded sedimentary and volcanic rocks.  Many of the rocks in the anticline are intensely hydrothermally altered and contain sulphide mineralization.

EXPLORATION AT GUMSBERG SILVER-ZINC-LEAD, SOUTHERN SWEDEN

Ongoing 2021 exploration work at Gumsberg is focused on expanding the footprint of Broken Hill-Type ("BHT") mineralization intercepted at the Fredriksson Gruva historical mine workings in March 2021 7 .  A Phase I geological mapping and sampling program has been completed and Norden Crown is planning a high resolution magnetic geophysical survey which will be used to trace strongly magnetic mineralization (magnetite associated) in the subsurface.  Precious metal enriched based metal mineralization at Fredriksson Gruva is spatially associated with a broader horizon of magnetic iron and manganese-rich chemical sedimentary rocks. This thick magnetic sequence is geologically and geophysically distinctive and can be modeled in three dimensions using detailed magnetic data. Regional magnetic geophysical data sourced from the Geological Survey of Sweden suggests that the prospective magnetic anomaly (and coincident magnetite-bearing iron formation) extends over 21 kilometres across the Gumsberg West Licence (southwest of Fredriksson Gruva), greatly enhancing the exploration potential for additional BHT discoveries (see Figure 2).

An extensive, tightly spaced high resolution ground magnetic survey is planned at Fredriksson Gruva and is expected to commence in Q4 2021. Results from this survey will be integrated with geological mapping and soil sampling data to generate a 3-dimensional interpretation of silver-zinc-lead mineralization at Fredriksson Gruva and will form the basis of a follow up diamond drilling program to test the continuity, grade and distribution of BHT mineralization.

Figure 2. The location of the Fredriksson Gruva BHT deposit with the greater ~ 21 kilometre long BHT prospective magnetic anomaly. (CNW Group/Norden Crown Metals Corp.)

About Norden Crown

Norden Crown is a mineral exploration company focused on the discovery of silver, zinc, copper, and gold deposits in exceptional, historical mining project areas spanning Sweden and Norway.  The Company aims to discover new economic mineral deposits in historical mining districts that have seen little or no modern exploration techniques.  The Company is led by an experienced management team and an accomplished technical team, with successful track records in mineral discovery, mining development and financing.

Qualified Person

Daniel MacNeil , P.Geo, a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has read and approved all technical and scientific information contained in this news release. Mr. MacNeil is Vice President Exploration for Norden Crown .

References

1 See news release dated August 5, 2021.

2 See news release dated March 20, 2019.

3 Intercept reported as seen in drill core. The true width is estimated at 85-100% of the reported interval.

4 See news release dated March 20, 2019 for discussion of analytical methods, QA/QC and core handling protocols.

5 Source: NGU Deposit Factsheet, Deposit Area 1943-010, 1997

6 See news release dated June 10, 2020.

7 See news release dated March 1, 2021.

On behalf of Norden Crown Metals Corp.

Patricio Varas , Chairman and CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains certain statements that may be deemed "forward–looking statements".  Forward–looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.  Forward-looking statements may include, without limitation, statements relating to future outlook and anticipated events, such as the successful completion of the exploration program (consisting of diamond drilling, mapping, prospecting, outcrop sampling, airborne magnetic and ground electromagnetic geophysical surveys) and Norden Crown's belief in the economic potential and attractiveness of Burfjord as a bulk tonnage target as discussed herein, the dates the various segments of the exploration program will commence, the duration of various segments of the exploration program, the anticipated timing of the results of the exploration programs described herein and the planned uses of the resulting data. Although Norden Crown believes the expectations expressed in such forward–looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward–looking statements.  Such material risks and uncertainties include, but are not limited to, ] the ability of the various contracted entities to complete their duties within the time expected by the Company; inclement weather conditions that may impede, delay or stop all or part of the exploration program; the effects of the Covid-19 epidemic or other epidemics or pandemics; mechanical breakdowns of equipment used in the exploration programs, changes in economic conditions or financial markets; the ability of Norden Crown to obtain the necessary consents required to explore, drill and develop the projects and, if obtained, to obtain such consents in a timely fashion relative to Norden Crown plans and business objectives for the projects; the general ability of Norden Crown to drill test its projects and find mineral resources; if any mineral resources are discovered or acquired, the Company's ability to monetize any such mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company's operations. Forward–looking statements are based on the reasonable beliefs, estimates and opinions of Norden Crown management on the date the statements are made. Except as required by law, Norden Crown undertakes no obligation to update these forward–looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

Norden Crown Metals Corp. Logo (CNW Group/Norden Crown Metals Corp.)

SOURCE Norden Crown Metals Corp.

Cision View original content to download multimedia: https://www.newswire.ca/en/releases/archive/October2021/28/c4230.html

News Provided by Canada Newswire via QuoteMedia

The Conversation (0)
Vertex Minerals Limited  Identifies Additional Gold Resources at the Reward Mine

Vertex Minerals Limited Identifies Additional Gold Resources at the Reward Mine

Perth, Australia (ABN Newswire) - Vertex Minerals Limited (ASX:VTX) (OTCMKTS:VTXXF) is pleased to announce that the Company's engineering and geology team at the Reward Mine have identified an additional two stope block that have not been previously reported. These stopes will be incorporated into the overall mine schedule, but provide an early source of mill feed.

HIGHLIGHTS:

- VTX's Technical Services team has identified a fully developed stope block to include in the mine production start-up.

- Stopes are suitable for airleg mining which will augment jumbo production.

- Stope blocks contains an Inferred Resource of 2,075 tonnes at 17.8 g/t Au and forms part of the 2023 Mineral Resource Estimate. With the lower block having over 700 tonnes at 42.5 g/t. The planned stope width is the same as the interpretation of the mineralisation.

- Stopes are additional to the PFS mine schedule which is illustrated in Figure 2* showing the location of the additional stope.

- Stope blocks are fully developed and have been sampled from development.

- This stope can be exploited as soon as services have been established.

The stopes were developed by a previous operator and are accessible from existing development. The additional stope blocks contain an Inferred Resource of 2,075 tonnes at 17.8 g/t Au containing 1,189 ounces of gold with the lower block having over 700 tonnes at 42.5 g/t. The planned stope width is the same as the interpretation of the mineralisation. These stopes forms part of the Mineral Resource Estimate reported in VTX Announcement 22 June 2023. They were not included in the production forecast detailed in the 2024 Pre-Feasibility Study (Announcement 3 January 2024). This was due to the complexity of existing airleg workings and uncertainty around access and ground conditions and wide spaced drilling which established these areas into an Inferred Resource Category.

Note: 'The Mineral Resources are additional to the Ore Reserves.'

Subsequent investigations, which included physical inspection of the levels and completing a geotechnical assessment, have concluded that the stopes are fully developed and accessible.

The quartz veins are exposed in the existing development and have been sampled. In total ninety-seven (97) face samples were taken along the stope and assayed for gold. Figure 3* illustrates the sample grades diluted to 1.5m width, which represents a minimum mining width, and the locations along the stope.

The density of sampling around the stope locations, along with accessibility adds to the confidence that the Company can successfully mine this area very early in the start-up of underground production. The Company believes the inclusion of these stopes is significant to early production, and that the stopes will be mined before the Company updates the Resource and Reserve Estimates for the Project. These samples were not used in the Resource.

The Company plans to exploit this stope once the mine services have been established and bring this stope into the initial stages of the production schedule.

Vertex's Executive Chairman, Roger Jackson commented: "Our new technical team has been established, and it is great to see them looking for the opportunities to add value to the high-grade underground production start-up.

This really does show the potential this mine has for high grade expansion. We are in the process of re-opening the underground mine with the establishment of mine services. Dewatering of the declines has commenced and is progressing to schedule."

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/0C116659



About Vertex Minerals Limited:  

Vertex Minerals Limited (ASX:VTX) is an Australian based gold exploration company developing its advanced Hargraves and Hill End gold projects located in the highly prospective Eastern Lachlan Fold Belt of Central West NSW. Other Company assets include the Pride of Elvire gold project and Taylors Rock gold/nickel/lithium project both located in the Eastern Goldfields of WA. The focus of Vertex Minerals is to advance the commercial production of gold from its NSW projects embracing an ethical and environmentally sustainable approach.



Source:
Vertex Minerals Limited

News Provided by ABN Newswire via QuoteMedia

Keep reading...Show less
Group Eleven Announces Appointment of Jasmine Lau as Chief Financial Officer

Group Eleven Announces Appointment of Jasmine Lau as Chief Financial Officer

Group Eleven Resources Corp. (TSXV: ZNG) (OTCQB: GRLVF) (FSE: 3GE) ("Group Eleven" or the "Company") is pleased to announce the appointment of Jasmine Lau, CPA, as Chief Financial Officer ("CFO") of Group Eleven, replacing Jeannine Webb, effective May 30, 2025.

Jasmine is a Vancouver-based Chartered Professional Accountant with over 16 years' experience in the resource sector, having served as the Chief Financial Officer for several mineral exploration companies. She is currently the CFO of Minaurum Gold Inc, Forte Minerals Corp., and Cascadia Minerals Ltd. Prior to that, Jasmine also served as CFO to a various number of other private and public mineral exploration companies.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×